Finland Times

S&P also raised the capital and earnings score from "adequate" to "strong" on the basis of expectations that Danske Bank's capitalisation will remain strong.

Meanwhile, the bank's long- and short-term ratings were affirmed by the ratings agency at "A" and "A-1" respectively, with a stable outlook.

In a press statement, Danske Bank's Chief Financial Officer Jacob Aarup-Andersen said the upgrade "follows the continuation of the positive trend in Danske Bank's capital position and earnings."

The SACP rating represents S&P's opinion of a bank's stand-alone creditworthiness, that is, its reditworthiness in the absence of extraordinary intervention or support.

The SACP upgrade is expected to have a positive effect on Danske Bank's funding options, the bank said.

In addition, the rating of Danske Bank's Tier 2 capital is raised from "BBB" to "BBB+" and the rating of Additional Tier 1 capital is raised from "BB+" to "BBB-".

The name Standard & Poor's Ratings Services was changed to S&P Global Ratings in April